The Chicago Mercantile Exchange Trust has announced its first round of grants since becoming a philanthropic institution in 2005, awarding $10 million to twenty universities, schools, and nonprofit organizations throughout the Chicago area.
The CME Trust supports efforts to promote understanding of financial markets, educate disadvantaged children and youth, and improve the health and well being of children. Grantees in this funding round include the University of Chicago Graduate School of Business (four years, $1.5 million) for an initiative on international financial markets; Renaissance Schools Fund (two years, $1.1 million) for the expansion of the Noble Charter School Network and expansion of the Perspectives Charter School Network; DePaul University (four years, $1 million) to establish the Fred Arditti Center for Risk Management; and Northwestern University's Kellogg School of Management (four years, $1 million) for education on derivatives and capital markets. In addition, CME Trust awarded a four-year, $1 million grant to Children's Memorial Hospital, with $750,000 earmarked for the CME Trust directorship for Children's Services and $250,000 for pediatric urology research and treatment.
"One of the salient goals of CME Trust is to make the Chicago area the center of financial market education," said Leo Melamed, CME Trust trustee and Chairman Emeritus of CME. "By making large, multi-year commitments, we are strategically investing in some of Chicago's most effective university programs, schools and nonprofit agencies. We are proud that CME Trust is launching its charitable giving in such a significant way."
For a complete list of recipients, visit the foundation's Web site.